Barrick says mine in Chile needs $29 mln to meet regulator rules

Fri May 10, 2013 6:30pm EDT

SANTIAGO, May 10 (Reuters) - Barrick Gold Corp's 
has estimated it must invest about $29 million to meet
environmental standards at its suspended Pascua-Lama mine, a
filing with Chile's environmental regulator showed.
    It is unclear if this figure includes all estimated
investment or if it is a partial forecast. A Barrick
representative was not immediately available for comment.
    A Chilean court in April temporarily halted the up-to-$8.5
billion gold mine, which straddles the border of Chile and
Argentina, to weigh claims by indigenous communities it has
damaged pristine glaciers and harmed water supplies.
     Additionally, Chile's environmental regulator charged the
project with violating the terms of its environmental license,
citing harm to the water supply and nearby pastures due to
faulty infrastructure.
    Construction of the unpopular project could resume at the
end of the year if the company shows authorities it can turn
around the troubled operation, a Chilean mining ministry
official was quoted as saying on Friday.
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